Exxon looks to buy stake in ONGC's Indian deep sea fields

India, the world's third biggest oil importer and consumer, ships in about 85% of its oil needs from overseas and has been scouting for partnerships with global oil majors to quickly monetise its reserves. "They (Exxon) are in talks to invest in deep see exploration (assets) around Andamans (on India's east coast). They are evaluating data," Kapoor told Reuters.

via Economictimes